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20121222
20121230
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CNBC 27
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English 27
Search Results 0 to 26 of about 27 (some duplicates have been removed)
CNBC
Dec 28, 2012 5:00pm EST
to be shared suffice. defense gets cut, revenue gets raised. it's the only way to make the numbers add up. >> what a lot of traders are saying, it was the first session of this five-day losing streak that we've been in, is that perhaps the markets really need to sell off. perhaps there neez to be a whoosh to the down side for washington to see how important it is to get a deal done. do you agree there needs to be something like that, a real point of pain for d.c. to get going? >> sure. i think that's right. i think there isn't a feeling that it's a real crisis. you hear the talk, well, if we go over the cliff, we can remedy it, we can do something two months later and make it retroactive. we need a signal from the market, but also need the ceos who have stepped forward and fundamentaled the campaign to deliver a message to both sides, because they do contribute to both sides, that if you don't get serious and solve this, lose our numbers. >> governor, it's interesting, coming from one of the ten largest states in terms of federal tax revenue. i'm curious what you think the implications ar
CNBC
Dec 28, 2012 9:00am EST
't be surprising to see a skate-along through the session. you mentioned defense stocks. the sequester sectors have been doing quite well. financials, obviously. housing stocks on a tear this year. but take a look also at the defense index. the philadelphia defense index, we are very close to all-time highs on this defense index. there are a couple of names to watch within this index. general dynamics, which has had a nice run since about the mid-november time frame or so, announcing today that along with huntingtonengles, it has won a navy submarine contract. and those are secure even if the defense department undergoes sequestration. interesting deal being made there. >> taking a look at some of the biggest names that are among the biggest losers. traders have told us, if you're in the money on a lot of these names, why not take some money off gap for instance, masco. names like that are related to housing and retail. >> and speaking of retail, coors, third straight day of losses for shares of coors. a big winner so far this year. yesterday, citigroup had cautious comments from itses, saying in s
CNBC
Dec 26, 2012 4:00pm EST
fundamentally? >> pretty defensive areas in many cases there? >> i would say that -- >> thank you. we've got to go, guys. thank you for your thoughts and ideas today on our beloved fiscal cliff. >> five days to go and counting before we fall off the so-called fiscal cliff and while there's no deal, more news out of washington and our very own john harwood is there. >> reporter: mandy, we've got a letter from the republican leadership to the president and to the democrats in the senate saying that the house has acted, they passed legislation last year to extend all the tax cuts and to shift the scheduled sequester cuts from defense to domestic programs, but, of course, in urging the senate to act saying, well, we've acted, now it's your turn, we're simply not going to see the democrats take them up on that because president obama since that letter has won the election and now we're looking at the possibility of a mini deal that would get enacted before january 1st but so far all we've heard are the sounds of silence in the negotiations. a senior white house official told me today when i asked
CNBC
Dec 26, 2012 5:00pm EST
talk about that, talk about going over the cliff, sequestration and defense spending cuts. what did you see today in the defense names?dynamics, which is just going to be in the cross hairs, we saw somebody roll their productive puts up. we've been talking about put buying in all of these names and in general dynamics, we saw somebody roll up from the january 62 half puts to the 65 puts. so, they bought that spread, they bout the jan half spread 12,000 times and they rolled their puts up to the 65 strike. they are now long the 65 puts and they're long in an effective price of about $1.15. meaning they are protected down to $63.85. that's quite a ways from where the stock closed today, but you know, if the fiscal cliff gets any messier, then we can be there pretty quickly. >> yeah. guy, this was your trade that you recommended, should we reach a deal on the cliff. monster run, all the defense stocks since the beginning of november. >> i traded on the long side. i understand why people would be buying protective puts here. i still think this is going to be one of those, you know, sell the
CNBC
Dec 27, 2012 12:00pm EST
at defense contractors out of jobs. there's a lot of bad heading our way. to josh's point, people will still send their kids to school and still go shopping but everybody is going to cut back how they shop. they will be trading down, judge, i think. and these idiots from harry reid to the president on top and john boehner included, i'm equal opportunity, it's horrible. >> we heard the same thing at the end of 2011 europe would spill to theist and the u.s. consumer was changing their habits. i'd like to point out the discretionary consumer is the second best in the market this year, 21%. any whoever made a bet against the u.s. consumer -- >> what kind of pullback are we talking about? if you guys like the market through the early part of 2013 -- >> i don't like it in january, judge, for what i just mentioned because we will see tax laws selling. we have not seen. we have seen gains selling, people taking gains. when they start taking these loss and when all the rest of this stuff kicks in, that's when i worry these guys will make an even worse deal in panic in january. >> let's go to our gues
CNBC
Dec 27, 2012 5:00pm EST
of a correction and which sectors will lead us lower? >> we talk eed about defense. we talked about retail. but if we look at what we have to kind of give back, if we look at the s&p 500, that hit a resistance level at 1460. we had a rally, about 34% rally from october 11 to october 2012. we look at the nasdaq, during that same time period, that went up about 38% and, again, we've had a resistance level at about $31.50 there. looking at smaller cap stocks, the russell 2000. again, a 44% rally from october '11 to october '12. and we have resistance there, about 850. if we take those rally levels and we assume about a 38.2%, what we call a retracement, in technical analysis, you get to levels such as 1330 for the s&p 500 as correction territory. >> okay, so, you can cherry pick larry's comments, but the other comment was that we've got massive liquidity coming in. it's not just don't fight the felt. it's don't fight the bank of tokyo, don't fight the chinese refer make, it's going to continue to put money in, don't fight the ecb and don't fight the fed. so, with that title throw of liquidity
CNBC
Dec 26, 2012 6:00pm EST
? >> you're a person who does have to heed my 20% in gold bullion. i think the defense is right to have. i'm not going to tell you to buy bonds that will yield 2% think i think gold is going to be the best defense you have against the worries that your just outlined. let's go to anthony in virginia, please. anthony? >> caller: washington redskins booyah p rg3 nation stand up. >> dan snooid ser your owner. have you thought about that at all? >> caller: i have a quick question. >> sure. >> caller: when the market is overbought, should i go for the long-term? >> when it's overbought, my own rule is that plus five, if we're very overbought, hey, take a pass. another time will come. however, you can get started small and hope it comes back if you just can't resist. sam in ohio. sam. >> caller: hey, jim. big glass city booyah to you. >> loving it what's up? >> caller: i got a question. i've been looking at a couple utility stocks, going with preferred instead of the common shares. i wanted to get your opinion on -- >> no, come on, man, we want upside. a lot of these utilities should have to be f
CNBC
Dec 26, 2012 7:00pm EST
of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been no progress over the holiday weekend. michelle, i'm afraid that people who are looking for a deal and looking for a deal by december 31, all hope is not lost. it is not looking good at the moment. >> let's go back to this hitting the debt ceiling on monday. we learned of this because treasury secretary tim good night mother sent a letter to the honorable harry reid majority leader. and that's where he outline it is fact that in three business days, the summit government is going t
CNBC
Dec 27, 2012 7:00pm EST
and they happen in defense and in medical as well. how much are those providing services to those sectors of the economy. >> one is my sister. she's a doctor and runs two medical practices here in the philadelphia area and she's a small business owner and it will hit her pretty hard because medicaid payments will be cut. people in other industries, particularly like you had said, tied to defense, those people will be hurting as well. however, if you're in the accounting business, what with the increase of taxes not such a bad year for you next year so it depends on what kind of business you're in. >> oh, yeah. if you prepare tax filings you're going to -- it's great, right? the more complicated the taxes get the better it is for you. it's terrible. >> you got it. legal profession, if you're in temporary services because people want to hire, not such a bad year for you or if you provide some type of technology services that will save companies money or reduce their overhead also not such a bad outlook. it happeneds on the small business that you're in, absolutely, some will go through pain
CNBC
Dec 28, 2012 4:00pm EST
to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over the fiscal cliff and even if we don't go over the cliff, and they come up with a bandaid, you risk losing more federal aid down the road, don't you? >> no question about you. we're a rural state. montana is the size of pefl r. -- pennsylvania, new york. there are federal dollars that pay for maintaining those highways. you can't have a million people pay for all those highways because it connects the entire country. you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes
CNBC
Dec 26, 2012 4:00am EST
the -- the fantastic countries here. hi, jim, as we all know, the department of defense is planning to downsize the military over the next few years as we conclude our business in afghanistan. do you believe that the large amount of military personnel, dod contractors, and other support personnel will flood the job market and increase demand for goods? no. i don't think t will move the need. by the way, the army, navy, they don't move that fast. and if anything, there could be a peace dividend if we got to that where we would cut the budget deficit, a la happened in the '90s. i don't think you should look at this issue in a way to make money off it, though. it's really not a need mover. as a matter of fact, it can be negative for a lot of the defense companies as we know. they've been under a cloud because of these cuts. here's one from danny in new york. jim, i heard you say when considering playing the downside of an equity that you would short the stock rather than buy a put. please elaborate on your reasoning. i favor puts to avoid the high risk of a short position. danny, so glad you sent
CNBC
Dec 27, 2012 1:00pm EST
jordan, told me the only thing worst than defense cuts are no cuts at all. that said, you can delay the impact of see questions administrati -- see quest administration. it will take them time to come up with the cuts over the course of the fiscal year. that said -- because we never passed the budget but only continuing resolution, we've only got until about march to figure out how to deal with that problem. >> you better believe that there are a lot of democrats in states like california, virginia, florida, in the senate and the house who don't want to see those defense cuts either because, boy, those are big employers. let me grill on one thing and that is this, tax rates are scheduled to go up anyway next year because of surcharges on medicare and a payroll tax surcharge because of obama care, am i right on that? >> you're right. if you look at it, incomes are really going to go back to where they were during the meltdown. the american economy will not have moved forward for many households. >> and the payroll tax holiday will end automatically. an immediate 2% cut to disposable
CNBC
Dec 28, 2012 1:00pm EST
of the defense establishment? >> oh, sure. hey, look, you guys are one of the good guys. you've started to run the debt clock as well as the time clock so the american people are starting to understand how fat that $16.3 trillion is just growing and growing and growing. the reality of it is if we don't deal with the explosion in entitlement costs, the baby boom is now retiring -- >> so what would you like to see done there specifically? apparently there's no major fix on entitlements coming as any deal this weekend actually. >> that's actually where my frustration is. we go through a month here of agony and every time i turn on my television the talk of the fiscal cliff but the thing that's actually driving us off the fiscal cliff is our debt and the explosion in the entitlements and yet that's the very thing we avoid dealing with. you ask about what we should do? look, those on the republican side on the house have voted for the ryan budget and others which actually gave a vision of how to put market forces into entitlement spending. if you don't like the idea, give us another suggestion, but
CNBC
Dec 24, 2012 5:00am EST
support europe. i do not want less europe, i want more europe. with a single economic defense and political framework. unfortunate, europe has taken a different route. the bu accurates of europe have developed a policy of austerity, disastrous when applied to economies that were already in trouble. we have seen what happens in greece where we are still close to a civil war. naturally, i objected to this policy at the heads of state of government when they were presenting proposals, especially when i have to defend the italian interests. for example, i vetoed and suspended the council heads of state when i was presented with the fiscal impact. this is my position. i could not agree with them when they imposed homework to greece which i was in total disagreement with or when they proposed the token tax which we stupidly adopted. and it is clear that financial transactions will migrate to companies that do not have a total impact. i also disagreed when european banks were ordered to account for the government bonds that they have in their balance sheet at mark to market value and
CNBC
Dec 26, 2012 9:00am EST
to kick in. that's the only way we'll cut defense spending in this country. what is happening with the sequester? where are we on the pentagon cuts? >> nobody wants those pentagon cuts, including the president of the united states. there may be some on the left who would favor that. but that's not a dominant position. that's not where the political center of gravity is in the country. i think it's very likely that those sequester cuts are going to be turned off. now, remember the sequester, $1.2 trillion over the next nine years. that's a little over $100 billion a year. so half of that is defense, half of that is discretionary. the kick the can mini deal solution that we're talking about would identify some subset of spending cuts that would be the lowest hanging fruit still available that might turn off the sequester, or they could just turn off the trigger all together. the sequester exists because of a law passed by congress, another law passed by congress could change it. >> good to see you, john. thanks for the update. >> mastercard spending pulse saying it's the lowest
CNBC
Dec 24, 2012 2:00pm EST
. it had not yet been named silicon valley, but you had the defense industry; you had hewlett-packard, but you also had the counter-culture of the bay area. that entire brew came together in steve jobs. he was sort of a hippie-ish rebel kid, loved listening to dylan music, dropped acid, but also he loved electronics. >> jobs would eventually cross paths with a computer wizard at berkeley five years his senior named steve wozniak. they became fast friends, sharing a love of high-tech pranks and a disdain for authority. one of the things they did was to copy and improve an illicit device called a blue box, which reproduced the tones that the phone company used and allowed users to make free long-distance phone calls. >> wozniak loves the blue box. he's doing it as a prank. steve says, "we can sell them. we can market them." and they sold about 100 of 'em. and jobs said to me, "that's the beginning of apple. when we started doing that blue box, i knew that with wozniak's brilliant designs and my marketing skills, we could sell anything." >> that was still a few years off. jobs en
CNBC
Dec 27, 2012 4:00pm EST
in leadership positions and been an outspoken nor to the budget and defense. senator, great to have you with us here. >> we sure are going to miss you, one of the great group of moderates. >> maybe you're relieved to be leaving at this point. >> thinking of new year's eve here in washington and thinking, you know, this is the time to exit. >> go out while things get a little mess over there. how will you feeling after the variousade lines toit about getting things done. >> i really am optimistic and people are getting entrenched, and we're seeing it on the senate floor and in the end we're not going to let this happen. now, it will take give on those sides and, of course, there's posturing and not any of i believe there's a bipartisan solution that will give each side something they want but not something that they will love. >> assuming we have to have a deal by december 31, and there's every dean to believe you guys can stop -- an if down the path -- we're not going to get a brand bargain, there eat is not enough time for that? >> 40 years about that. i do think thatworking marc people are no
CNBC
Dec 28, 2012 3:00pm EST
outperformers is a broad one. higher growth names outperforming versus last year which was more defensive. what you do is look at the real laggards, hp and intel come to mind real quickly. >> right. >> they are down low for very good reasons. they are reason to be the desk top computing is definitely under siege with more mobile computing. the management issues with hp. all of those things need to be ironed out and as a result the stocks have underperformed. >> are you saying you would buy those here? >> we don't own them right now and not contemplating buying them right now. talk about strategy, you know, this is where you would look if you're espousing this strategy of buying longer term laggards that have underperformed. these are two, you know, exhibit "a" names that you would look at, but you'll have to be patient and you'll have to wait out a lot of internal activity, especially with respect to h and p before you get some growth. >> chris, am i right in thinking that some of michael's darlings are actually some of your dogs for 2013? specifically intel and hp? >> let's look at intel, hp a
CNBC
Dec 26, 2012 1:00pm EST
-off of the sequester, the automatic cuts equally in defense and nondefense programs that nobody wants to happen, you temporarily turn those off, you extend unemployment benefits, you do something about doctor payments under medicare. if that happens, and clears the senate, there would be a bipartisan majority in the senate if it is allowed to get to the floor, then you would have to have speaker boehner agree to put that on the floor, it would pass the house almost certainly, but the speaker has been reluctant to put any bill on the floor for a vote that doesn't have the support of a majority of his own members, of republican members. he would have to breach that rule in order for it to happen before january 1st. >> which is no small feat, as we see. before we let you go, this business has been very forthright in its rise above campaign which basically tell political parties to get it together and do what was right for the country. i see other businesses particularly in d.c. beginning to pick up that lead. >> well, you have starbucks stores tomorrow are beginning a campaign, i don't know how large t
CNBC
Dec 24, 2012 12:00pm EST
anything. but the north american aerospace defense command known as norad did drop google maps from the santa tracking system this year. now google is tracking the sleigh on its own. but which one is the real santa tracker? we will compare and contrast coming up. >>> but first, just moments until the bell. after today's show there are just four trading days left in the year. we'll find out from one market watcher how to be positioned going into the new year with no debt deal on the table in washington. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and
CNBC
Dec 28, 2012 4:00am EST
on the defense side and on the domestic side. about $109 billion the first year, 1.2 trillion over ten years. you'll see estate taxes go up, investment taxes go up. there is an endless list of expiring provisions of law that will, in fact, expire if nothing is done. and i think even if something is done at this point, what you're looking at is something very scaled back, something very small and congress will have to come back next year and take a look at trying to get to some of those other issues. >> alistair here. that sounds about right to me, assuming that that scenario is how things play out. what sort of impact medium term do you think this is going to have on consumer and corporate confidence in america, given that the fiscal cliff is clearly weighed heavily on both of those in recent months? >> the sad thing, you know, from an observer's standpoint here is that there isn't much corporate or consumer confidence in the american government. and it's proved itself dysfunctional time and again over the last couple of years. what you hear now is not how people believe that there's going to be
CNBC
Dec 24, 2012 6:00am EST
american air space defense demand or norad is ready to help you track the jolly old elf and his reindeer. the funniest line in vacation, the movie, christmas where they're at the dinner table and clark says that santa has been spotted coming across the border up north. and his cousin had to go, are you serious, clark? do you remember that part? cousin eddie, randy quaid, says, are you serious? go online and track the sleigh's progress at norad.org. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. >>> welcome back to "squawk box." making headlines, this is pretty interesting for those who need to do last-minute christmas shopping. the amount of money you pay for an item onli
CNBC
Dec 28, 2012 6:00am EST
medicare/medicaid, social security and defense. you have to cut almost everything else to zero to get close to balance or to make a big difference. so i think in today's world, given that those entitlements, even if you reform them and cut back back will increase as people like us eventually retire. it seems to me that sizing the government for something around 22 or so is probably doable. but not easy to get to. because you still have to have major cuts and major long titlement reform to get there. >> you see one of the major ceo guys, and i'm not going to quote which one, said yesterday looking for premiums on insurance to double because of obama care. and he said -- he made it very clear. he said we're going to cover 30 million people that aren't covered right now and it has to be paid for. irchbls's premiums are going to double. that they didn't tell us. >> that the costs would be up slightly. >> also, that's 30 million, 10% of the population. >> and that he they gave numbers to the cbo that said we were going to cut the deficit. and, in fact, it was a new entitlement that now is going
Search Results 0 to 26 of about 27 (some duplicates have been removed)